Tutorial 1 Answers 1. In your own words, summarise your understanding of the terms ‘supply chain’ and ‘supply chain management’. A supply chain is the set of value-adding activities that connects a firm’s suppliers to the firm’s customers. It consists of all parties involved, directly or indirectly, in fulfilling a customer request. The supply chain, which is also referred to as the logistics network, consists of the suppliers, manufacturer centers, transporters, warehouses, retailers, and customers themselves. The reverse logistics activities are also included in the supply chain. Supply chain management is the integration of key business processes from initial raw materials extraction to the final or end customer, including intermediate processing, transportation, and storage activities and delivery to the end customer.

2. Provide your reasons why is supply chain management more popular today. There are a number of reasons including emerging trends, the development of faster and bigger computing systems, successes of other companies, software development, the advent of the Internet, and more competition.

3. How can a small business like a local sandwich shop or bicycle shop benefit from supply chain management? All businesses including small ones can adopt SCM in piecemeal fashion to suit their needs. Small businesses can still develop supplier alliances, use the Internet to find supplies, and find ways to endear themselves to their customers 4. How do the firm’s customers benefit from supply chain management? What about the final or end customers? Customers benefit from better service/prices/quality from their suppliers, and lower inventory levels. End customers also benefit in the same way, as lower prices, higher customer service and better quality makes its way through the supply chain.

5. Could a firm have more than one supply chain? Most firms do. If firms carry or sell different types of products, each has an associated supply chain.

...﻿Johnathan Anthony
Mr. Jang
SCM 301
10/1/13
Part 1 Exam
1.) Anticipatory and response-based business models are the two ways used by firms to fulfill customer requirements. The fundamental difference in the two models is timing. Anticipatory model has been the traditional business practice, which was mainly forecast driven. Since information about purchasing behavior was not available, and the channel partners were collaborating...

...﻿SCM 485 Exam 1 Review
Forecast
Notes
Supply Chain Management
Sequence of activities and organizations involved in producing and delivering a good or service
SCM Define by Council of Supply Chain Management Professionals (CSCMP)
Supply Chain Management encompasses the planning and management of all activity involved in sourcing and procurement, conversion, and all logistics management activities.
Importantly, it also includes coordination and...

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CHAPTER TWO QUESTIONS – LOGISTICS
2-1 A unique feature of integrated logistics is:
A – The newness of the concept
B – It is fundamental similar to military operations
C – Complexity and scope of operations**
D – The fact that it employees many people.
2-2 Basic logistics service is a concept that:
A – Describes the level of service provided all established customers**
B – Is involved in designing a network
C – Only involves availability
D – None of the above...

...INVESTMENT & PORTFOLIO MANAGEMENT
FIN3IPM
TUTORIALANSWERSTUTORIAL1: INTRODUCTION
CHAPTER 1: QUESTION 1
a The process of investment concerns the purchase of assets which will provide a future return to allow for future consumption or further investment. Individuals have to make choices between current and future consumption and because their pattern of income does not always match their...

...﻿Test Paper
Chemistry
Section 1 : Multiple choice, circle the best choice A, B, C, or D in each questions. Each Question Carries 1 mark
1. Which of the following processes do water molecules gain heat?
A. Melted ice cream freezing when put in to refrigerator
B. Water droplets forming on outside of a cold can of soda
C. Icecube melting when left outside
D. Water droplets forming on a window on a cold day
2. Which of the following...

...have a supply chain. Some supply chains are simple, while others are rather complicated.
Supply chain management (SCM) is a process used by companies to ensure that their supply chain is efficient and cost-effective. A supply chain is the collection of steps that a company takes to transform raw components into the final product. The following are five basic components of SCM.
1. Plan
2. Develop (Source)
3. Make
4. Deliver
5. Return.
Plan: The...